Friday, April 20, 2012

Do Higher Taxes Kill Jobs? Check out Illinois and Wisconsin

"Scott Walker, the Republican governor facing a recall vote in Wisconsin, traveled over the Illinois line to argue that the tax increase backed by his Democratic counterpart Pat Quinn is killing jobs even as the Midwest rebounds from recession...

A broader snapshot tells a different tale. Illinois ranked third while Wisconsin placed 42nd in the most recent Bloomberg Economic Evaluation of States index, which includes personal income, tax revenue and employment. Illinois gained 32,000 jobs in the 12 months ending in February, the U.S. Bureau of Labor Statistics found. Wisconsin, where Walker promised to create 250,000 jobs with the help of business-tax breaks, lost 16,900."